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Pin to quick picksTurkiye Gdr Rgs Regulatory News (TIBD)

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1st Quarter Results

15 May 2008 10:13

RNS Number : 5177U
Turkiye Is Bankasi
15 May 2008
 



13.05.2008

Isbank Increased its Net Profit 51% by the end of the First Quarter of 2008 with TRY 84 billion Asset Size

Isbank increased its net profit 51 % in the first quarter of 2008 compared to the same period of the previous year.

In a period, where risk aversion has dominated capital markets, Isbank managed to increase its total loans 14% by the end of the first quarter, 2008. Increase in FX loans reached a 32% on a TRY equivalent base, while the increase in TRY loans was 8%. Having reached TRY 38.9 billion, loans have continued increasing their share in the balance sheet reaching a ratio of 46%. In this period, 11% growth in TRY based commercial loans was higher than the growth in retail loans, which was 6%. On the other hand, NPL ratio improved to 3.8% from 4.2%.

While Isbank's total deposits grew by 6% compared to the year end 2007, share of TRY savings deposits in total deposits reached 38%. In the mood of continuing ambiguity in the international credit markets and with expectations regarding year end inflation, keeping cost of deposits under control had a positive impact on the bank's profitability performance. The operational efficiency increased as a result of relatively slow rise in operational expenses, while there was a remarkable recovery in operating income in the first quarter of 2008. At the end of the first quarter of 2008, the return on average shareholders' equity and return on average assets ratios were 22.4% and 2.7%, respectively.

Isbank, which distributed almost 35% of its net profit of the year 2007 as dividend to its shareholders, ended the first quarter of the year with a robust growth performance not compromising for its profitability and asset quality. Isbank, having managed keeping its profitability thanks to its liquid balance sheet and capital adequacy, will continue being the biggest supporter of either the real sector or consumers. The ongoing structural transformation program aims not only maintaining but also strengthening the operational efficiency in the increasing competitive environment.

  

 

 TURKIYE IS BANKASI A.S. UNCONSOLIDATED BALANCE SHEET

Footnote

TRY THOUSAND

CURRENT PERIOD 

PRIOR PERIOD

ASSETS

(31/03/2008)

(31/12/2007) 

TRY

FC

Total

TRY

FC

Total

I.

CASH AND BALANCES WITH THE CENTRAL BANK 

V-I-1

3,457,514

2,839,674

6,297,188

4,682,923

2,407,887

7,090,810

II.

FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT AND LOSS (Net)

V-I-2

421,593

170,064

591,657

940,581

51,336

991,917

2.1

Financial Assets Held for Trading

281,851

13,706

295,557

574,772

21,372

596,144

2.1.1

Government Debt Securities

278,057

3,717

281,774

571,091

12,694

583,785

2.1.2

Share Certificates

75

0

75

65

0

65

2.1.3

Other Marketable Securities

3,719

9,989

13,708

3,616

8,678

12,294

2.2

Financial Assets at Fair Value Through Profit and Loss

0

0

0

0

0

0

2.2.1

Government Debt Securities

0

0

0

0

0

0

2.2.2

Share Certificates

0

0

0

0

0

0

2.2.3

Other Marketable Securities

0

0

0

0

0

0

2.3

 Derivative Financial Assets Held for Trading

139,742

156,358

296,100

365,809

29,964

395,773

III.

BANKS

V-I-3

132,644

5,931,455

6,064,099

129,845

6,824,446

6,954,291

IV.

MONEY MARKET PLACEMENTS

 

0

0

0

0

0

0

4.1

Interbank Money Market Placements

 

0

0

0

0

0

0

4.2

Istanbul Stock Exchange Money Market Placements

 

0

0

0

0

0

0

4.3

Receivables from Reverse Repurchase Agreements

 

0

0

0

0

0

0

V.

FINANCIAL ASSETS AVAILABLE FOR SALE (Net)

V-I-4

10,977,121

11,977,181

22,954,302

11,525,860

10,248,943

21,774,803

5.1

Share Certificates

13,640

0

13,640

13,640

0

13,640

5.2

Government Debt Securities

10,963,481

9,972,947

20,936,428

11,512,220

8,463,126

19,975,346

5.3

Other Marketable Securities

0

2,004,234

2,004,234

0

1,785,817

1,785,817

VI.

LOANS

V-I-5

27,157,214

11,727,856

38,885,070

25,067,717

8,912,124

33,979,841

6.1

Loans

 

27,157,214

11,727,856

38,885,070

25,067,717

8,912,124

33,979,841

6.1.1

Loans to the Bank's Risk Group

 

55,780

608,146

663,926

86,428

444,223

530,651

6.1.2

Other

 

27,101,434

11,119,710

38,221,144

24,981,289

8,467,901

33,449,190

6.2

Non-Performing Loans

 

1,514,466

2,956

1,517,422

1,491,117

2,928

1,494,045

6.3

Specific Provisions (-)

 

1,514,466

2,956

1,517,422

1,491,117

2,928

1,494,045

VII.

FACTORING RECEIVABLES

 

0

0

0

0

0

0

VIII.

INVESTMENTS HELD TO MATURITY (Net)

V-I-6

2,489,629

0

2,489,629

1,955,393

0

1,955,393

8.1

Government Debt Securities

 

2,489,629

0

2,489,629

1,955,393

0

1,955,393

8.2

Other Marketable Securities

 

0

0

0

0

0

0

IX.

INVESTMENTS IN ASSOCIATES (Net)

V-I-7

771,253

0

771,253

766,434

0

766,434

9.1

Associates Accounted for Using the Equity Method

 

0

0

0

0

0

0

9.2

Unconsolidated Associates

 

771,253

0

771,253

766,434

0

766,434

9.2.1

Financial Investments 

 

53,713

0

53,713

48,895

0

48,895

9.2.2

Non-Financial Investments 

 

717,540

0

717,540

717,539

0

717,539

X.

INVESTMENTS IN SUBSIDIARIES (Net) 

V-I-8

2,871,105

41,742

2,912,847

4,008,584

41,742

4,050,326

10.1

Unconsolidated Financial Subsidiaries

 

1,279,247

41,742

1,320,989

1,927,767

41,742

1,969,509

10.2

Unconsolidated Non-Financial Subsidiaries

 

1,591,858

0

1,591,858

2,080,817

0

2,080,817

XI.

JOINTLY CONTROLLED ENTITIES (JOINT VENTURES) (Net)

V-I-9

0

0

0

0

0

0

11.1

Jointly Controlled Entities Accounted for Using the Equity Method

 

0

0

0

0

0

0

11.2

Unconsolidated Jointly Controlled Entities

 

0

0

0

0

0

0

11.2.1

Jointly Controlled Financial Entities

 

0

0

0

0

0

0

11.2.2

Jointly Controlled Non-Financial Entities

 

0

0

0

0

0

0

XII.

LEASE RECEIVABLES

V-I-10

0

0

0

0

0

0

12.1

Finance Lease Receivables

 

0

0

0

0

0

0

12.2

Operating Lease Receivables

 

0

0

0

0

0

0

12.3

Other

 

0

0

0

0

0

0

12.4

Unearned Income ( - )

 

0

0

0

0

0

0

XIII.

DERIVATIVE FINANCIAL ASSETS FOR HEDGING PURPOSES

V-I-11

0

0

0

0

0

0

13.1

Fair Value Hedging

 

0

0

0

0

0

0

13.2

Cash Flow Hedging

 

0

0

0

0

0

0

13.3

Net Foreign Investment Hedging

 

0

0

0

0

0

0

XIV.

TANGIBLE ASSETS (Net) 

1,898,428

3,295

1,901,723

1,919,047

2,979

1,922,026

XV.

INTANGIBLE ASSETS [Net]

45,276

0

45,276

48,803

0

48,803

15.1

Goodwill

 

0

0

0

0

0

0

15.2

Other

 

45,276

0

45,276

48,803

0

48,803

XVI.

INVESTMENT PROPERTY (Net)

V-I-12

0

0

0

0

0

0

XVII.

TAX ASSETS

V-I-13

248,549

0

248,549

225,359

0

225,359

17.1

Current Tax Asset

 

0

0

0

0

0

0

17.2

Deferred Tax Asset

 

248,549

0

248,549

225,359

0

225,359

XVIII.

ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS (Net)

V-I-14

36,100

0

36,100

6,879

0

6,879

18.1

Held For Sale

 

36,100

0

36,100

6,879

0

6,879

18.2

Discontinued Operations

 

0

0

0

0

0

0

XIX.

OTHER ASSETS

V-I-15

552,001

210,371

762,372

257,762

156,273

414,035

 

TOTAL ASSETS

51,058,427

32,901,638

83,960,065

51,535,187

28,645,730

80,180,917

  

TURKIYE IS BANKASI A.S. UNCONSOLIDATED BALANCE SHEET

 

Footnote

TRY THOUSAND

 CURRENT PERIOD

 PRIOR PERIOD

LIABILITIES

 (31/03/2008) 

 (31/12/2007)

TRY

FC

Total

TRY

FC

Total

I.

DEPOSITS

V-II-1

32,691,608

18,551,198

51,242,806

31,266,802

17,266,343

48,533,145

1.1

Deposits from the Bank's Risk Group

954,834

492,722

1,447,556

886,351

497,551

1,383,902

1.2

Other

31,736,774

18,058,476

49,795,250

30,380,451

16,768,792

47,149,243

II.

DERIVATIVE FINANCIAL LIABILITIES HELD FOR TRADING

V-II-2

268,526

205,822

474,348

2,519

196,809

199,328

III.

FUNDS BORROWED

V-II-3

3,102,337

7,636,535

10,738,872

3,054,913

6,907,969

9,962,882

IV.

MONEY MARKET FUNDS

2,377,507

3,380,062

5,757,569

2,906,900

2,895,658

5,802,558

4.1

Interbank Money Market Funds

0

0

0

0

0

0

4.2

Istanbul Stock Exchange Money Market Funds

0

0

0

0

0

0

4.3

Funds Provided Under Repurchase Agreements

2,377,507

3,380,062

5,757,569

2,906,900

2,895,658

5,802,558

V.

MARKETABLE SECURITIES ISSUED (Net)

0

0

0

0

0

0

5.1

Bills

0

0

0

0

0

0

5.2

Asset-backed Securities

0

0

0

0

0

0

5.3

Bonds

0

0

0

0

0

0

VI.

FUNDS

0

0

0

0

0

0

6.1

Funds Borrowed

0

0

0

0

0

0

6.2

Other

0

0

0

0

0

0

VII.

SUNDRY CREDITORS

2,096,927

44,042

2,140,969

1,321,202

161,135

1,482,337

VIII.

OTHER LIABILITIES

V-II-4

700,643

655,964

1,356,607

209,972

521,261

731,233

IX.

FACTORING PAYABLES

0

0

0

0

0

0

X.

LEASE PAYABLES (Net)

V-II-5

622

72,494

73,116

833

70,872

71,705

10.1

Finance Lease Payables

680

81,094

81,774

929

79,377

80,306

10.2

Operating Lease Payables

0

0

0

0

0

0

10.3

Other

0

0

0

0

0

0

10.4

Deferred Finance Lease Expenses ( - )

58

8,600

8,658

96

8,505

8,601

XI. 

DERIVATIVE FINANCIAL LIABILITIES FOR HEDGING PURPOSES

V-II-6

0

0

0

0

0

0

11.1

Fair Value Hedging

0

0

0

0

0

0

11.2

Cash Flow Hedging

0

0

0

0

0

0

11.3

Net Foreign Investment Hedging

0

0

0

0

0

0

XII. 

PROVISIONS

V-II-7

2,592,720

89,596

2,682,316

2,481,203

87,693

2,568,896

12.1

General Loan Loss Provision

348,685

413

349,098

296,308

367

296,675

12.2

Provision for Restructuring

0

0

0

0

0

0

12.3

Reserves for Employee Benefits

146,823

0

146,823

138,786

0

138,786

12.4

Insurance Technical Reserves (Net)

0

0

0

0

0

0

12.5

Other Provisions

2,097,212

89,183

2,186,395

2,046,109

87,326

2,133,435

XIII.

TAX LIABILITY

V-II-8

279,493

213

279,706

224,775

196

224,971

13.1

Current Tax Liability

279,493

213

279,706

224,775

196

224,971

13.2

Deferred Tax Liability

0

0

0

0

0

0

XIV.

PAYABLES RELATED TO ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS

0

0

0

0

0

0

14.1

Held For Sale

0

0

0

0

0

0

14.2

Discontinued Operations

0

0

0

0

0

0

XV.

SUBORDINATED LOANS

0

0

0

0

0

0

XVI.

SHAREHOLDERS' EQUITY

V-II-9

9,225,378

-11,622

9,213,756

10,571,920

31,942

10,603,862

16.1

Paid-in Capital

2,756,585

0

2,756,585

2,756,585

0

2,756,585

16.2

Capital Reserves

2,046,655

-11,622

2,035,033

3,267,258

31,942

3,299,200

16.2.1

Share premium

3,694

0

3,694

3,694

0

3,694

16.2.2

Share Cancellation Profits

0

0

0

0

0

0

16.2.3

Marketable Securities Revaluation Reserve

65,470

-11,622

53,848

1,286,073

31,942

1,318,015

16.2.4

Tangible Assets Revaluation Reserve

0

0

0

0

0

0

16.2.5

Intangible Assets Revaluation Reserve

0

0

0

0

0

0

16.2.6

Investment Property Revaluation Reserve

0

0

0

0

0

0

16.2.7

Bonus Shares Obtained from Associates, Subsidiaries and Jointly Controlled Entities (Joint Ventures)

0

0

0

0

0

0

16.2.8

Hedging Funds (Effective Portion)

0

0

0

0

0

0

16.2.9

Accumulated Revaluation Reserves on Assets Held for Sale and Discontinued Operations

0

0

0

0

0

0

16.2.10

Other Capital Reserves

1,977,491

0

1,977,491

1,977,491

0

1,977,491

16.3

Profit Reserves

3,867,087

0

3,867,087

2,846,270

0

2,846,270

16.3.1

Legal Reserves

1,154,745

0

1,154,745

1,012,375

0

1,012,375

16.3.2

Statutory Reserves

0

0

0

0

0

0

16.3.3

Extraordinary Reserves

2,675,926

0

2,675,926

1,845,621

0

1,845,621

16.3.4

Other Profit Reserves

36,416

0

36,416

-11,726

0

-11,726

16.4

Profit or Loss

555,051

0

555,051

1,701,807

0

1,701,807

16.4.1

Prior Years' Profit/Loss

0

0

0

0

0

0

16.4.2

Current Year Profit/Loss

555,051

0

555,051

1,701,807

0

1,701,807

 

TOTAL LIABILITIES AND EQUITY

53,335,761

30,624,304

83,960,065

52,041,039

28,139,878

80,180,917

  

 

 TURKIYE IS BANKASI A.S.

Footnote

TRY THOUSAND

 

INCOME STATEMENT

CURRENT PERIOD

PRIOR PERIOD

(01/01-31/03/2008)

(01/01-31/03/2007)

 

 

 

 

I.

INTEREST INCOME

V-IV-1

2,436,744

2,274,085

1.1

Interest Income on Loans

1,444,557

1,243,032

1.2

Interest Received from Reserve Deposits

70,566

67,420

1.3

Interest Received from Banks

76,841

64,322

1.4

Interest Received from Money Market Placements

593

2,188

1.5

Interest Received from Marketable Securities Portfolio

830,541

862,643

1.5.1

Financial Assets Held for Trading

10,103

15,007

1.5.2

Financial Assets at Fair Value Through Profit and Loss

0

0

1.5.3

Financial Assets Available for- Sale 

717,596

847,636

1.5.4

Investments Held to Maturity 

102,842

0

1.6

Finance Lease Income

0

0

1.7

Other Interest Income

13,646

34,480

II.

INTEREST EXPENSE

V-IV-2

1,513,346

1,572,847

2.1

Interest on Deposits

1,164,991

1,224,932

2.2

Interest on Funds Borrowed

208,982

219,635

2.3

Interest on Money Market Funds

130,333

125,108

2.4

Interest on Securities Issued

0

0

2.5

Other Interest Expense

9,040

3,172

III.

NET INTEREST INCOME / EXPENSE (I - II)

923,398

701,238

IV.

NET FEES AND COMMISSIONS INCOME / EXPENSE

286,102

244,278

4.1

Fees and Commissions Received

312,731

268,337

4.1.1

Non-cash Loans

19,507

20,610

4.1.2

Other

293,224

247,727

4.2

Fees and Commissions Paid

26,629

24,059

4.2.1

Non-cash Loans

11

7

4.2.2

Other

26,618

24,052

V.

DIVIDEND INCOME

41,061

21,194

VI.

TRADING INCOME (NET)

V-IV-3

94,736

80,752

6.1

Gains/Losses on Securities Trading

-331,787

112,792

6.2

Foreign Exchange Gains/Losses

426,523

-32,040

VII.

OTHER OPERATING INCOME

V-IV-4

292,869

128,388

VIII.

TOTAL OPERATING INCOME / EXPENSE (III+IV+V+VI+VII)

1,638,166

1,175,850

IX.

PROVISION FOR LOANS AND OTHER RECEIVABLES (-)

V-IV-5

348,025

249,264

X.

OTHER OPERATING EXPENSES (-)

V-IV-6

590,234

481,952

XI.

NET OPERATING INCOME (VIII-IX-X)

699,907

444,634

XII.

AMOUNT IN EXCESS RECORDED AS GAIN AFTER MERGER

0

0

XIII.

PROFIT/LOSS FROM ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD

0

0

XIV.

NET MONETARY POSITION GAIN/LOSS

0

0

XV.

PROFIT/LOSS ON CONTINUING OPERATIONS BEFORE TAX (XI+…+XIV)

699,907

444,634

XVI.

TAX PROVISION FOR CONTINUING OPERATIONS (±)

V-IV-7

144,856

77,252

16.1

Current Tax Provision

131,598

92,040

16.2

Deferred Tax Provision

13,258

-14,788

XVII.

NET PERIOD PROFIT/LOSS FROM CONTINUING OPERATIONS (XV±XVI)

555,051

367,382

XVIII.

INCOME ON DISCONTINUED OPERATIONS

0

0

18.1

Income on Assets Held For Sale 

0

0

18.2

Gain on Sale of Associates, Subsidiaries and Jointly Controlled Entities (Joint Ventures)

0

0

18.3

Other Income on Discontinued Operations

0

0

XIX.

EXPENSE ON DISCONTINUED OPERATIONS (-)

0

0

19.1

Expense on Assets Held For Sale

0

0

19.2

Loss on Sale of Associates, Subsidiaries and Jointly Controlled Entities (Joint Ventures)

0

0

19.3

Other Expense on Discontinued Operations

0

0

XX.

PROFIT/LOSS ON DISCONTINUED OPERATIONS BEFORE TAX (XVII-XIX)

0

0

XXI.

TAX PROVISION FOR DISCONTINUED OPERATIONS (±)

0

0

21.1

Current Tax Provision

0

0

21.2

Deferred Tax Provision

0

0

XXII.

NET PERIOD PROFIT/LOSS FROM DISCONTINUED OPERATIONS (XX±XXI)

0

0

XXIII.

NET PERIOD PROFIT/LOSS (XVII+XXII)

V-IV-8

555,051

367,382

 

Earnings Per Share (in full TRY)

0.00805392

0.005330799

  CAPITAL ADEQUACY STANDARD RATIO

The Bank's capital adequacy ratio is 17.20 %, 

The capital adequacy standard ratio is calculated by risk weighting of risk-weighted assets and non-cash loans in accordance with the relevant legislation, and by adding to the risk-weighted assets the value subject to risk determined by use of the Standard Method,

Information related to capital adequacy ratio:

Risk Weights

Bank Only

0%

10%

20%

50%

100%

150%

200%

Amount Subject to Credit Risk

Balance Sheet Items (Net)

10,680,036

0

5,884,823

15,727,209

28,373,445

144,586

941

Cash

426,558

0

454

0

0

0

0

Securities in Redemption

0

0

0

0

0

0

0

Balances with the Central Bank of Turkey

3,830,613

0

0

0

0

0

0

Balances with Domestic and Foreign Banks, Foreign Head Offices and Branches

0

0

5,746,487

0

255,396

0

0

Interbank Money Market Placements

0

0

0

0

0

0

0

Receivables from Reverse Repo Transactions

0

0

0

0

0

0

0

Reserve Deposits

1,968,916

0

0

0

0

0

0

Loans

1,201,237

0

36

15,356,959

21,051,105

144,586

941

Non-performing Loans (Net)

0

0

0

0

0

0

0

Lease Receivables

0

0

0

0

0

0

0

Financial Assets Available for Sale 

0

0

0

0

0

0

0

Investments Held to Maturity

2,365,178

0

0

0

0

0

0

Receivables From Installment Sale of Assets

0

0

0

0

0

0

0

Sundry Debtors

6

0

0

0

389,849

0

0

Interest and Income Accruals

216,628

0

137,846

370,250

762,474

0

0

Investments in Associates, Subsidiaries and

Jointly-Controlled Entities (Net)

0

0

0

0

3,683,838

0

0

Tangible Assets

0

0

0

0

1,937,823

0

0

Other Assets

670,900

0

0

0

292,960

0

0

Off Balance Sheet Items

59,086

0

624,464

807,665

8,040,487

0

0

Non-cash Loans and Commitments

59,086

0

41,793

807,665

8,034,053

0

0

Derivative Financial Instruments

0

0

582,671

0

6,434

0

0

Non- Risk-Weighted Accounts

0

0

0

0

0

0

0

Total Risk Weighted Assets

10,739,122

0

6,509,287

16,534,874

36,413,932

144,586

941

  

Summary information about the bank only capital adequacy ratio:

Current Period

Prior Period

Amount Subject to Credit Risk (ASCR)

46,201,987

42,627,319

Amount Subject to Market Risk (ASMR)

5,519,600

3,726,425

Amount Subject to Operational Risk (ASOR)

7,699,174

6,408,553

Shareholders' Equity 

10,222,199

10,834,242

Shareholders' Equity /(ASCR+ASMR+ASOR)*100

17.20

20.53

ASCR: Amount Subject to Credit Risk

ASMR:Amount Subject to Market Risk

ASOR: Amount Subject to Operational Risk

  

Information about the shareholders' equity items:

Current Period

(31.03.2008)

Prior Period

(31.12.2007)

CORE CAPITAL (TIER I)

Paid-In Capital

2,756,585

2,756,585

Nominal Capital

2,756,585

2,756,585

Capital Commitments (-)

0

0

Paid-in Capital Inflation Adjustments 

1,977,491

1,977,491

Share Premium

3,694

3,694

Share Cancellation Profits

0

0

Legal Reserves

1,154,745

1,012,375

I. Legal Reserve (Turkish Commercial Code 466/1)

1,017,480

934,240

II. Legal Reserve (Turkish Commercial Code 466/2)

137,265

78,135

Other Legal Reserve Per Special Legislation

0

0

Statutory Reserves

0

0

Other Profit Reserves

36,416

-11,726

Extraordinary Reserves

2,675,926

1,845,621

Reserves Allocated by the General Assembly

2,635,967

1,842,682

Retained Earnings

39,959

2,939

Accumulated Loss

0

0

Foreign Currency Share Capital Exchange Difference

0

0

Legal, Statutory and Extraordinary Reserves Inflation Adjustments

0

0

Profit

555,051

1,701,807

Current Period Profit

555,051

1,701,807

Prior Periods' Profit

0

0

Provision for Possible Losses (up to 25% of the Core Capital)

806,000

770,000

Gain on Sale of Associates ,Subsidiaries and Real Estates 

0

0

Primary Subordinated Loans (up to 15% of the Core Capital)

0

0

Losses Excess of Reserves (-)

0

0

Current Period Loss

0

0

Prior Periods' Loss

0

0

Leasehold Improvements (-)

0

26,158

Prepaid Expenses (-)

36,415

36,164

Intangible Assets (-)

45,276

48,803

Deferred Tax Asset excess of 10% of the Core Capital (-)

0

0

Limit Excesses as per Paragraph 3 of Article 56 of the Banking Law (-)

0

0

Total Core Capital (*)

9,965,908

10,055,847

SUPPLEMENTARY CAPITAL (TIER II)

 

 

General Loan Loss Provision

349,098

296,675

45% of Movables' Revaluation Reserve

0

0

45% of Immovables' Revaluation Reserve 

0

0

Bonus Shares of Associates, Subsidiaries and Jointly-Controlled Entities (Joint Ventures)

0

0

Primary Subordinated Loans Excluding the Portion included in the Core Capital

0

0

Secondary Subordinated Loan

0

0

45% of Marketable Securities Revaluation Reserve

-10,854

593,107

Associates and Subsidiaries

52,938

556,675

Financial Assets Available For Sale

-63,792

36,432

Capital Reserves, Profit Reserves and Prior Periods' Profit/Loss Inflation Adjustments (excluding the inflation adjustments to legal reserves, status reserves and extraordinary reserves)

0

0

Total Supplementary Capital

338,244

889,782

  

TIER III CAPITAL

0

0

CAPITAL

10,304,152

10,945,629

DEDUCTIONS FROM THE CAPITAL

81,953

111,387

Investments in unconsolidated entities (domestic/foreign) of Which the Bank Keeps %10 or More of the Shares and Operating in Banking and Financial Sectors 

262

262

Investments in entities (domestic/foreign) operating in Banking and Financial Sectors of which the Bank keeps the shares less than 10% , but exceeding 10% or more of the total core and supplementary capitals

0

0

Loans to banks, financial institutions (domestic/foreign) ,holders of qualified shares in the form of secondary subordinated loan and loan instruments purchased from those parties qualified as primary or secondary subordinated loan

0

0

Loans granted non-compliant with the articles 50 and 51 of the Banking Law

0

0

Net book values of real estates exceeding 50% of the capital and of assets acquired against overdue receivables and held for sale as per article 57 of the Banking Law but retained more than five years

0

0

Others

0

0

TOTAL SHAREHOLDERS' EQUITY

10,222,199

10,834,242

(*) Leasehold improvements, prepaid expenses and intangible assets shown under the core capital, are not included in the total of core capital in accordance with the related regulation, but shown under the deductions from the capital.

MARKET RISK: 

Amount

(I) Capital to be Employed for General Market Risk - Standard Method

244,340

(II) Capital to be Employed for Specific Risk - Standard Method

36,983

(III) Capital to be Employed for Currency Risk - Standard Method

158,799

(IV) Capital to be Employed for Commodity Risk - Standard Method

0

(V) Capital to be Employed for Settlement Risk - Standard Method

0

(VI) Capital to be Employed for Market Risk of Options - Standard Method

1,446

(VII) Capital to be Employed for Market Risks of Banks Applying Risk Measurement Models

0

(VIII) Total Capital to be Employed for Market Risk (I+II+III+IV+V+VI)

441,568

(IX) Amount Subject to Market Risk (12.5 x VIII) or (12.5 x VII)

5,519,600

  Information on currency risk:

EURO

USD

Yen

Other FX

Total

Current Period 

Assets

Cash (Cash in Vault, Foreign Currency Cash, Money in Transit, Cheques Purchased) and Balances with the Central Bank of Turkey

2,764,804

59,207

177

15,486

2,839,674

Banks

1,842,626

3,241,000

281

847,548

5,931,455

Financial Assets at Fair Value through Profit/Loss (1)

3,209

20,961

0

6,094

30,264

Money Market Placements

0

0

0

0

0

Financial Assets Available for Sale 

1,247,341

10,729,840

0

0

11,977,181

Loans (2)

4,632,214

8,325,246

3,172

87,706

13,048,338

Investments in Associates, Subsidiaries and Jointly Controlled Entities (Joint Ventures)

41,742

0

0

0

41,742

Investments Held to Maturity

0

0

0

0

0

Derivative Financial Assets Held for Hedging Purposes

0

0

0

0

0

Tangible Assets

0

85

0

3,210

3,295

Intangible Assets

0

0

0

0

0

Other Assets (1)

27,948

159,038

11

414

187,411

Total Assets

10,559,884

22,535,377

3,641

960,458

34,059,360

 

 

 

 

 

Liabilities

 

 

 

 

 

Banks Deposits

81,080

48,662

15

89,385

219,142

Foreign Currency Deposits

8,036,812

9,376,833

7,489

910,922

18,332,056

Money Market Funds

923,234

2,456,828

0

0

3,380,062

Funds Provided from Other Financial Institutions

53,730

7,571,599

690

10,516

7,636,535

Marketable Securities Issued

0

0

0

0

0

Sundry Creditors

6,149

35,354

41

2,498

44,042

Derivative Financial Liabilities Held for Hedging Purposes

0

0

0

0

0

Other Liabilities (1)

114,360

871,355

1,238

12,496

999,449

Total Liabilities

9,215,365

20,360,631

9,473

1,025,817

30,611,286

 

 

 

 

 

Net On Balance Sheet Position

1,344,519

2,174,746

-5,832

-65,359

3,448,074

Net Off Balance Sheet Position

-38,983

-2,480,747

-34,751

118,950

-2,435,531

Derivative Financial Assets (3)

1,039,384

6,468,571

156,757

122,596

7,787,308

Derivative Financial Liabilities (3)

1,078,367

8,949,318

191,508

3,646

10,222,839

Non-Cash Loans

1,909,998

3,805,438

65,348

63,753

5,844,537

Prior Period

 

 

 

 

 

Total Assets

8,691,243

19,775,282

14,878

978,502

29,459,905

Total Liabilities

7,947,794

19,077,635

19,978

898,702

27,944,109

Net Balance Sheet Position

743,449

697,647

-5,100

79,800

1,515,796

Net Off Balance Sheet Position

-402,213

-1,406,099

48,430

11,450

-1,748,432

Derivative Financial Assets

329,633

3,782,748

110,040

11,681

4,234,102

Derivative Financial Liabilities

731,846

5,188,847

61,610

231

5,982,534

Non-Cash Loans

1,363,640

2,894,409

58,829

65,229

4,382,107

 (1) In accordance with the principles of the "Regulation on Measurement and Practices of Banks' Net Overall FC Position / Shareholders' Equity Ratio on a Consolidated and Unconsolidated Basis", Derivative Financial Instruments Foreign Currency Income Accruals (TRY 139,800), Prepaid Expenses (TRY 22,960) in assets and General Reserves (TRY 413), Derivative Financial Instruments Foreign Currency Expense Accruals (TRY 24,227), Shareholders's Equity (TRY -11,622) in liabilities are not taken into consideration in the currency risk measurement.

(2) Includes foreign currency indexed loans, which are followed under TRY accounts, TRY 808,100 of these loans amounting to TRY 1,320,482 are USD indexed, TRY 506,950 of them are EUR indexed, TRY 899 of them are CHF indexed, TRY 2,078 of them are GBP indexed , TRY 2,434 of them are JPY indexed and TRY 21 of them are CAD indexed

 (3) The derivative transactions are taken into consideration within the context of the forward foreign currency trading definitions in the above mentioned Regulation.

Presentation of assets and liabilities according to their remaining maturities:

Demand

Up to 1

Month

1-3

Months

3-12

Months

1-5

Years

Years and Over

Unallocated (1)

Total

Current Period (31.03.2008)

Assets

 

 

 

 

 

 

 

Cash (Cash in Vault, Foreign

Currency Cash, Money in Transit,

Cheques Purchased) and Balances

with the Central Bank of Turkey

6,226,541

70,647

0

0

0

0

0

6,297,188

Banks

301,529

3,332,796

7,165

182,509

2,200,800

39,300

0

6,064,099

Financial Assets at Fair Value

through Profit/Loss

75

34,472

56,994

270,768

227,499

1,849

0

591,657

Money Market Placements

0

0

0

0

0

0

0

0

Financial Assets Available for Sale 

52,515

1,207,478

1,339,272

2,597,158

14,184,586

3,573,293

0

22,954,302

Loans

4,018,760

5,095,970

3,415,569

10,228,408

12,211,453

3,914,910

0

38,885,070

Investments Held to Maturity

0

0

0

0

1,780,116

709,513

0

2,489,629

Other Assets

0

445,849

19,112

1,355

214,808

35,948

5,961,048

6,678,120

Total Assets

10,599,420

10,187,212

4,838,112

13,280,198

30,819,262

8,274,813

5,961,048

83,960,065

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Bank Deposits

220,063

232,826

26,231

5,313

0

0

0

484,433

Other Deposits

7,845,886

32,294,792

6,368,755

4,108,837

140,103

0

0

50,758,373

Funds Provided from Other

Financial Institutions

0

146,291

255,465

2,530,613

5,455,788

2,350,715

0

10,738,872

Money Market Funds

0

2,380,941

1,576

3,165,305

209,747

0

0

5,757,569

Marketable Securities Issued

0

0

0

0

0

0

0

0

Sundry Creditors

847,154

1,260,180

1,563

7,025

25,047

0

0

2,140,969

Other Liabilities

36,940

545,407

354,543

324,181

232,327

0

12,586,451

14,079,849

Total Liabilities

8,950,043

36,860,437

7,008,133

10,141,274

6,063,012

2,350,715

12,586,451

83,960,065

Liquidity Gap

1,649,377

-26,673,225

-2,170,021

3,138,924

24,756,250

5,924,098

-6,625,403

0

 

 

 

 

 

 

 

 

Prior Period (31.12.2007)

 

 

 

 

 

 

 

 

Total Assets

11,277,437

9,453,950

3,375,092

12,579,468

29,832,564

6,597,905

7,064,501

80,180,917

Total Liabilities

8,781,593

34,739,955

6,848,218

7,806,482

6,454,697

2,175,777

13,374,195

80,180,917

Liquidity Gap

2,495,844

-25,286,005

-3,473,126

4,772,986

23,377,867

4,422,128

-6,309,694

0

 (1) Asset items, such as Tangible Assets, Subsidiaries and Associates, Office Supply Inventory, Prepaid Expenses and Non-Performing Loans, which are required for banking operations and which can not be converted to cash in short-term, and other liabilities such as Provisions which are not considered as payables and shareholders' equity, are shown in 'Unallocated" column.

   Information on consumer loans, retail credit cards, personnel loans and personnel credit cards: 

Short-Term

Medium and Long-

Term

Interest and Income

Accruals

Total

Consumer Loans-TRY

516,875

7,525,368

318,873

8,361,116

Real Estate Loans

14,716

3,455,660

256,239

3,726,615

Auto Loans

30,165

793,029

21,622

844,816

General Purpose Consumer Loans

471,967

3,276,132

40,991

3,789,090

Other Consumer Loans

27

547

21

595

Consumer Loans - FC Indexed

1,680

119,873

60,634

182,187

Real Estate Loans

765

102,992

56,508

160,265

Auto Loans

915

16,812

4,109

21,836

General Purpose Consumer Loans

0

69

17

86

Other Consumer Loans

0

0

0

0

Consumer Loans - FC

0

0

0

0

Real Estate Loans

0

0

0

0

Auto Loans

0

0

0

0

General Purpose Consumer Loans

0

0

0

0

Other Consumer Loans 

0

0

0

0

Retail Credit Cards-TRY

3,289,152

25,743

32,964

3,347,859

With Installments

988,859

25,743

0

1,014,602

Without Installments

2,300,293

0

32,964

2,333,257

Retail Credit Cards-FC

0

0

0

0

With Installments

0

0

0

0

Without Installments

0

0

0

0

Personnel Loans-TRY

21,039

159,182

5,399

185,620

Real Estate Loans

125

52,781

3,550

56,456

Auto Loans

190

9,371

212

9,773

General Purpose Consumer Loans

20,724

97,029

1,637

119,390

Other Consumer Loans

0

1

0

1

Personnel Loans- FC Indexed

37

1,580

148

1,765

Real Estate Loans

0

1,512

124

1,636

Auto Loans

37

33

14

84

General Purpose Consumer Loans

0

35

10

45

Other Consumer Loans

0

0

0

0

Personnel Loans-FC

0

0

0

0

Real Estate Loans

0

0

0

0

Auto Loans

0

0

0

0

General Purpose Consumer Loans

0

0

0

0

Other Consumer Loans

0

0

0

0

Personnel Credit Cards-TRY

52,062

0

287

52,349

With Installments

16,239

0

0

16,239

Without Installments

35,823

0

287

36,110

Personnel Credit Cards-FC

0

0

0

0

With Installments

0

0

0

0

Without Installments

0

0

0

0

Overdraft Accounts - TRY (real persons)

291,455

0

8,595

300,050

Overdraft Accounts - FC (real persons)

0

0

0

0

Total 

4,172,300

7,831,746

426,900

12,430,946

  

Installment based commercial loans and corporate credit cards:

Short-Term

Medium and Long

Term

Interest and Income

Accruals

Total

Commercial Loans With Installments-TRY

633,225

6,217,091

221,461

7,071,777

Real Estate Loans

5,391

447,905

17,108

470,404

Auto Loans

99,364

2,016,688

50,862

2,166,914

General Purpose Commercial Loans

511,023

3,507,395

101,782

4,120,200

Other Commercial Loans 

17,447

245,103

51,709

314,259

Commercial Loans With Installments-FC Indexed

27,076

325,241

64,832

417,149

Real Estate Loans

77

38,815

6,575

45,467

Auto Loans

7,962

174,866

37,459

220,287

General Purpose Commercial Loans

19,037

111,560

20,798

151,395

Other Commercial Loans 

0

0

0

0

Commercial Loans With Installments-FC

0

0

0

0

Real Estate Loans

0

0

0

0

Auto Loans

0

0

0

0

General Purpose Commercial Loans

0

0

0

0

Other Commercial Loans 

0

0

0

0

Corporate Credit Cards-TRY

187,139

0

866

188,005

With Installments

0

0

0

0

Without Installments

187,139

0

866

188,005

Corporate Credit Cards-FC

0

0

0

0

With Installments

0

0

0

0

Without Installments

0

0

0

0

Overdraft Accounts - TRY

(corporate)

781,404

0

31,298

812,702

Overdraft Accounts - FC (corporate)

0

0

0

0

Total 

1,628,844

6,542,332

318,457

8,489,633

Specific provisions provided against loans: 

Specific Provisions

Current Period

Prior Period

 Loans and Receivables with Limited Collectibility 

173,922

259,843

Loans and Receivables with Doubtful Collectibility

297,868

190,763

Uncollectible Loans and Receivables

1,045,632

1,043,439

Total

1,517,422

1,494,045

   The changes in total loans under follow-up:

Group III

Group IV

Group V

Loans and Receivables

with Limited Collectibility

Loans and Receivables

with Doubtful

Collectibility

Uncollectible Loans and

Receivables

Prior Period Ending Balance

259,843

190,763

1,043,439

Corporate and Commercial Loans

187,273

123,267

909,163

Retail Loans

24,182

26,654

48,523

Credit Cards

48,388

29,713

85,752

Other

0

11,129

1

Additions (+)

223,383

8,813

7,544

Corporate and Commercial Loans

125,580

4,878

6,239

Retail Loans

35,981

1,060

921

Credit Cards

61,817

358

384

Other

5

2,517

0

Transfers from Other Categories of

Non-performing Loans (+)

0

202,560

67,798

Corporate and Commercial Loans

0

142,421

46,754

Retail Loans

0

23,212

9,871

Credit Cards

0

36,927

11,173

Other

0

0

0

Transfers to Other Categories of

Non-performing Loans (-)

202,560

67,798

0

Corporate and Commercial Loans

142,421

46,754

0

Retail Loans

23,212

9,871

0

Credit Cards

36,927

11,173

0

Other

0

0

0

Collections (-)

106,740

36,420

69,074

Corporate and Commercial Loans

67,728

26,070

59,860

Retail Loans

8,206

5,150

4,641

Credit Cards

30,806

4,743

4,573

Other

0

457

0

Write-Offs (-)

4

50

4,075

Corporate and Commercial Loans

1

0

2,672

Retail Loans

0

6

172

Credit Cards

3

32

1,231

Other

0

12

0

Current Period Ending Balance

173,922

297,868

1,045,632

Corporate and Commercial Loans

102,703

197,742

899,624

Retail Loans

28,745

35,899

54,502

Credit Cards

42,469

51,050

91,505

Other

5

13,177

1

Specific Provisions (-)

173,922

297,868

1,045,632

Corporate and Commercial Loans

102,703

197,742

899,624

Retail Loans

28,745

35,899

54,502

Credit Cards

42,469

51,050

91,505

Other

5

13,177

1

Net Balance on Balance Sheet

0

0

0

  

Information on Deposits:

The maturity structure of deposits (Current period):

Demand

With

7 Days

Maturityy

Up to 1

Month

1-3

Months

3-6

Months

6 Months

to 1 Year

1 Year and

Over

Accumulated

Deposits

Total

Savings Deposits 

2,227,415

0

11,614,580

4,962,104

495,139

91,391

263,675

0

19,654,304

Foreign Currency Deposits

3,617,385

0

7,361,162

2,651,227

1,344,827

1,475,972

1,876,816

0

18,327,389

Residents in Turkey

3,506,967

0

6,906,668

2,544,931

1,286,097

1,164,537

1,649,716

0

17,058,916

Residents Abroad

110,418

0

454,494

106,296

58,730

311,435

227,100

0

1,268,473

Deposits of Public Institutions

376,911

0

907,584

71,519

7,388

10

8,312

0

1,371,724

Commercial Deposits

1,460,060

0

3,064,872

3,730,376

168,779

184,355

930

0

8,609,372

Other Institutions Deposits

159,448

0

773,462

1,644,278

12,072

1,057

200,600

0

2,790,917

Precious Metals Deposits

4,667

0

0

0

0

0

0

0

4,667

Interbank Deposits

220,063

0

145,843

107,735

8

5,434

5,350

0

484,433

The Central Bank of

Turkey

50,699

0

0

0

0

0

0

0

50,699

Domestic Banks

4,140

0

122,821

46,700

0

87

0

0

173,748

Foreign Banks

158,348

0

23,022

61,035

8

5,347

5,350

0

253,110

Special Finance

Institutions

6,876

0

0

0

0

0

0

0

6,876

Other

0

0

0

0

0

0

0

0

0

Total

8,065,949

0

23,867,503

13,167,239

2,028,213

1,758,219

2,355,683

0

51,242,806

  Information on interest income on loans:

Current Period

Prior Period

TRY

FC

TRY

FC

Interest Income on Loans*

Short-term Loans

569,785

34,177

490,484

31,786

Medium and Long-term Loans

686,460

128,402

577,934

119,564

Interest on Non-performing Loans

25,733

0

23,264

0

Premiums Received from State Utilization Support Fund

0

0

0

0

* Includes fee and commission income on cash loans.

Information on interest income from securities:

Current Period

Prior Period

TRY

FC

TRY

FC

Interest Income on Financial Assets Held for Trading 

10,036

67

14,981

26

Interest Income on Financial Assets at Fair Value through Profit and Loss

0

0

0

0

Interest Income on Financial Assets Available for Sale

473,341

244,255

606,277

241,359

Investments Held to Maturity

102,842

0

0

0

Total

586,219

244,322

621,258

241,385

Information on Interest Expense on Deposits According to Maturity Structure: 

Demand Deposits

Time Deposits

Up to One Month

Up to Three Months

Up to 

Six Months

Up to 

One Year

Over One Year

Accumulated Deposits

Total

TRY

Bank Deposits

598

4,577

5,984

0

2

0

0

11,161

Savings Deposits

487

400,734

205,824

27,794

3,554

10,192

0

648,585

Public Sector Deposits

30

1,998

1,475

753

0

31

0

4,287

Commercial Deposits

392

94,472

137,599

5,231

12,154

9,371

0

259,219

Other Institutions 

Deposits

99

39,270

72,422

668

392

21

0

112,872

Deposits with 7 Days 

Maturity

0

0

0

0

0

0

0

0

Total

1,606

541,051

423,304

34,446

16,102

19,615

0

1,036,124

FX

 

 

 

 

 

 

 

Foreign Currency 

Deposits

142

46,942

26,691

13,607

2,539

37,082

0

127,003

Bank Deposits

512

948

273

62

43

26

0

1,864

Deposits with 7 Days

 Maturity

0

0

0

0

0

0

0

0

Precious Metals 

Deposits

0

0

0

0

0

0

0

0

Total

654

47,890

26,964

13,669

2,582

37,108

0

128,867

Grand Total

2,260

588,941

450,268

48,115

18,684

56,723

0

1,164,991

  

Provision expenses due to loans and other receivables:

Current Period

Prior Period

Specific Provisions for Loans and Other Receivables

189,469

157,605

Group III Loans and Receivables

176,171

140,292

Group IV Loans and Receivables

5,318

2,208

Group V Loans and Receivables

7,980

15,105

General Provision Expenses

52,879

5,423

Provision Expenses for Possible Risks

36,000

10,000

Marketable Securities Impairment Losses

48,758

62,357

Financial Assets at Fair Value through Profit and Loss

62

1

Financial Assets Available for Sale

48,696

62,356

Impairment Losses on Investments in Associates, Subsidiaries, Jointly Controlled Entities and Investments Held to Maturity

0

0

Investment in Associates

0

0

Subsidiaries

0

0

Jointly Controlled Entities

0

0

Investments Held to Maturity

0

0

Others

20,919

13,879

Total 

348,025

249,264

Other operating expenses:

Current Period

Prior Period

Personnel Expenses

243,244

227,333

Reserve for Employee Termination Benefits

4,965

4,543

Bank Pension Fund Deficit Provisions

0

0

Impairment Losses on Tangible Assets

12

0

Depreciation Expenses of Tangible Assets

32,725

27,372

Impairment Losses on Intangible Assets

0

0

Impairment Losses on Goodwill

0

0

Amortization Expenses of Intangible Assets

5,337

1,701

Impairment Losses on Share of Participations Accounted for Using the Equity Method

0

0

Impairment Losses on Assets to be Disposed

0

0

Depreciation Expenses of Assets to be Disposed

2,895

2,991

Impairment Losses on Assets Held for Sale and Subject to Discontinued Operations

0

0

Other Operating Expenses

171,301

144,039

Operating Lease Expenses

18,062

13,037

Repair and Maintenance Expenses

2,234

2,107

Advertisement Expenses

10,741

45,925

Other Expenses

140,264

82,970

Loss on Sale of Assets

66,957

497

Other

62,798

73,476

Total

590,234

481,952

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
QRFFGGMKRKNGRZG
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